9-Rsi has shot up sharply..
A stale mate with Low ema holding and High ema resisting..
for Short term trading.
Retracement strategy, a must for traders.
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
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106 comments:
Dr - will sit and compile one +vely this week end. PS has insisted on it long back. Trend is the key in using the file Dr. It is giving me immense pleasure. I believe in it. I keep the opposite extreme as my SL.
I think among the best education I had. Thank you Ilango Sir.
The Goat is being garlanded.
you mean us goats, RG?:p
@ rajagopal, u say this as a small jump happening before a FALL or else shorter like me will be thinking, it is me!!
@SuchIsLife,
Sorry for the mistake and sorry to all guys facing inconvience due to it.
Did not notice it till u brought to my notice ,thanks
bad day in office
cant sit more tight
covered everything.
sorry ilango sir
for being impatient
What is to be done about the open positions on the short side created today around 4880-90? Do we still hold with SL as Day High... Pls help
pis, Dr. ... are you holding still?
thanx rg
waiting for mail
Thanks Aarvee.. for taking it in right spirit..
SIL
I am worried about my (mis)understanding of Friday 2 to 2.30 +ve move leading to the butcher shop. Hence the goat....
Ignore it with a smile or scorn.
Nerve breaking day
@ rv
final report card of this accident
total loss to recover is 2000 points.
loss covered is 7000 points
will try in next accident.:-)
ty SIL. AarVee, IITan and dr.saurab gave me a few heart attacks with their caps/shouting. I was sure the market was in deep crisis.;)
Right Things are to be taken in right spirits and vice versa
beacuse Such is Life :-)
@Bhope, I am holding the same till a closing will be apparent above 5EMA.Others requested to enlighten pl
lets c how it behave at 4931 dlema
@Doc,
great looks like a ecg report of healthy heart
Okie
Ilango require your advise here... for shorts
@Yoda
sorry Yoda to cause u anguish .
But now i know how to give heart attacks to aliens :-)
Dont know what is going on..
some of friends are in long, some are in shorts,
@RG
expecting +ve 2.30
@IIT
already given a draw down levels, for the 2.30
oops what kind of jumping ride we are witnessing..
RG- perfect day for 12 points :)
SAN : btw. It is very indecent of me not to have thanked you for responding to my query in your blog. Please accept my gratitude for your thoughts.
Sorry for not having done it earlier.
4927 & 4890 are the deciding levels now.
lets see whats in after 2:30.
sir,
when rsi is o/b and nifty is at resisitance it is negative or positive
lol @ AarVee, j/k.:)
its again resisted at 4931
ilango sir ur words will give solace to some of us .
ur few golden words r required.:-(
@ilango sir
sorry words in green backgrnd
ITS THE LUL BEFORE THE STORM..
@ Bhope,
It has narrowed down to 4890 to 4935 as deciding boundaries.
It has done the intra rally and poised to move down. But oscillators are indicating reversal to UP.Price will confirm above 4935.
We need to wait this one for some direction.
Fall not over.. go short at 4940
Dear Mr. Elango
What is present status of NIFTY will it reach 4950 or 4850 today?
lol, instead of falling meteorically, it's rising. What a deceptive market.:/
@ Gautam. wht sl shall we have for ur short call
looks like it may go as high as 4980
iam shrt at 4935
HI GB can we carry short?you are saying moday will be positive
@ thanx ilango sir
ur words solace to everyone.
@ rv 2000 points is from original capital
It seems to be Bull Trap
Ilango sir, As it appears to me from the discussion here, mkt has not bottomed and positionally we can carry shorts created @ 4980? Or any specific advice to today's shorter group? ( i am one)
I am sorry, it is 4880
Thanks a lot Ilango... Carrying/added to shorts here at 4930..
bye freinds
try to catch u tomorrow
one of my best frnd of school itme is coming have to arrange every thing for him
thanx rv and ilango sir
Now all stop loss has been taken out, as it clears day high.It was just for takingstop losses
USD is not making any new highs intraday. It made 47.31 in the morning and then crashed to 46.76 and now recovered to 46.93. Bears need USD to make new highs.
I think so too, IITan.:)
Fingers crossed... IITian... May your say come true!
Only a fall below 4915 will be bearish as of now.
If closes above 4924 @ 3.00PM, that will bring hourly upside momentum.
Take care as sudden choppiness might materialize..
IITian>> Your words wrt SL's suggest that NF was being manipulated since morning... Is this possible?
@IITian
do u think is there any level left on upside, or is it over, and nifty should move downwards
Yesterday, Bears tried to press it below 4925 but could not after the gap down @ 4908 and rally to 4980.
Today, Bulls have managed to bring it above 4925 and trading for some time now.
Holding above "4925" again will bring short term bullishness.(4924 - Hour High Ema now)
Hi Everybody!
In my view Nifty is behaving totally reverse what it has in last few days. 4833 was great level, almost 61.8% retracement of last rise from 4675 to 5400. Nifty reversed just 10 points above from there so short selling for time being is not good idea, better to buy with stop loss of 4832 & we will find 4980-5025-5065 soon in next week easily. Ilango sir, pls give ur view on this for more clarity.
KUMAR
Can make fresh short@ this level
USD is falling. Currently at 46.865.
@illango.,NF again heading for photo finish..
Ilango sir i m back.any change in xonservative shorts.still
Still hold?
Dear Ilango:
I think there is a chance for nifty to close just below.. 4924 Hr high ema...
if it does can we hold on to our shorts??
SIL
dear ilango can be it another bulltrap?
@ bizagra,
Book Partially.
There is triangle breakout in Nifty.
Bank nifty is struggling to go past 9160
Market proved one more misconception (mine) wrong (as usual). Friday butcher shop closed. May be the goat was getting ready for its wedding.
@IITian
Waiting for the 'sharp sell off after 2.30 pm'.hope it comes true.
Guys..
Do you think bulls targetting NS above 4950 today? in the last 25mins??
SIL
sir
wht closing lvls we mst look
http://tradingontechnicals.blogspot.com/2010/05/bank-nifty-struggling-to-break-9160.html
Illango sir
can we still remain and carry short in nifty and banknifty in conservative side
regards
vikram
Rv
wht fr monday
@manu
if closes above 4931 ,day low ema then test of 4985,day ema on monday.
markets very choppy ,should not take home positions for BTST ,sleep well on weekend.
there are opportunities waiting
illango sir i had short nifty at 4915 and still holding it wise to hold short
BTST
Scrip Name HIGH-Rs
BPCL 567.56
CIPLA 327.99
GAIL 462.24
ITC 273.94
ONGC 1124.60
SBI 2314.07
STBT
Scrip Name LOW-Rs
HLL 227.83
IDEA 49.88
INFOSYS 2546.76
NTPC 194.99
RANBAXY 409.87
SIEMENS 648.05
TATAPOW 1241.82
Noted 2 facts : Both up and down projected have more than 100% 5D avg volume
Other than these 12, rest of the 50 (38) have remained Rajagopals.(indecisive).
No decisive "Buy signals" have emerged so far.
Bears are taking some profit protection covering.
A most likely close above 4931 will put a pause to this down move for a day or two.
@Pisreport
Are you holding your short in NF for monday?
what if the mkt gaps up by 70 points on monsday? i booked profit on conservatives at 4943 (day high). a 300+ fall in dow and i am booking small losses from yesterdays closing price.
I have 1 bnf short but even that is hedged with long posn in wipro.
USD trying to rise. Now at 46.90 from 46.84.
Sir
Short Bank Nifty at this level or hold till Monday? I have no positions currently.
Thanks
No positions, other than Short positional maintained.
Will wait for Monday.
:)
thnx Rv and sir..
ur eye looks targetted:)
@ Rahul,
I can say, it is closing again below 5-ema, so downtrend is intact - HOLD.
But your selling level is so low to keep the Correct SL.
Last 2 days, we have had gap dn & intra rally. First time it is closing near day's High.
You have to take a call now.
Ilango Sir,
Is nifty will close above 4931 today?
@ Rahul,
There seem to be some fall at the last minute. Might be favourable for you to close @ Cost.
If you wish to carry, prepare for some big SL.
I am carrying shorts
@manu
In sir's words will gain be a "photo finish" after average close comes.
refrain from carrying any positions .
market mein log intezar kar rahen hein ki photo finish par lo aur yeh apne photo par haar pahnaye
lot of pain left as per market dynamics showing buy on dips at every low levels.
closing of longs will cause another downslide next week
I was thinking, "how much can it fall in the last 15 mins?". Quite a lot it seems.:)
@ Hitendra,
If you can bear a 100 point SL, enter shorts.
@ IITian
sir waiting was the slide today did not happen.
will carry positions and wait for the wiping off effect on monday.
correction-waiting for
@ AAR VEE,
apne photo par haar pahnaye - :)
it is up to you to take risk. I am also going with short posistions in nf and IDFC.
Breaking -- US Begins Massive Military Build Up Around Iran
Ilango sir,
Sir, mein to abhi TOPI he pahna raha hoon,
Haar expiry par.
last minute advise, do not carry long position.
i mean this series 'expiry' settlement
@ amol, where from you got the news and how it will impact. US may take is +ve!
@RAJA SIR
Just saw your comments about me. You are already doing busy work with your technical analysis file. So thank you for finding time to visit my blog.
Sir and Friends Thank you and bye for now. Have a great week end. RV just ensure the graph line crossed 5900 in your weekly supplementary edition - mera thopi ankhen bhi bandh kar raha hai.
BYE friends and all
Thank u Ilango sir for a nice session.
have a great weekend.
FTSE Feb Low: 5030 Today’s low: 5021
DAX Feb Low: 5433 Today’s Low: 5776
CAC Feb Low: 3563 Today’s Low: 3390
Hangseng Feb Low: 19655 Yesterday Close: 19545
Nikkei Feb Low: 9867 Yesterday;s Close: 9696
Dowjones Feb Low: 9904 Yesterday;s Close: 10068
Nasdaq Feb Low: 2100 Yesterday;s Close: 2204
S&P Feb Low: 1056 Yesterday;s Close: 1071
@IITian, present future snapshot:
DJ 30 10005.00 US SPX 500 1063.85
Germany 30 5746.30 Germany 30 5746.30
Japan NI225 9618.00 Japan NI225 9618.00 etc etc
Sorry AAR VEE, if you have continued your long position.
If we break Feb Low of 4675, then we will not cross 200 DMA for long time.
Hai everyone
Nifty EOD analysis in 5 minutes chart and Hourly chart.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-end-of-day-analysis-5-minutes-and.html
thank you
Europe opened mixed but now in deep RED, :) Dow future RED. RED is a nice color!!
I am very sure that market on monday will go closer to 4700. And on tuesday it will break 4700 and may go close to 4200 before bouncing back further and closing on expiry at 4600 about
German law makers vote for euro rescue package - http://finance.yahoo.com/news/German-lawmakers-approve-euro-apf-2374714142.html?x=0&sec=topStories&pos=1&asset=&ccode=
I had thought this could bring stability to the markets and halt the selling for few days.
Hi Friends,
Is there any way to know whether the OI for the particular strike price were bought or sold.
For example, today 4800 Call addedd some 274%.... What does this means..
My earlier understanding was OI will only show the outstanding call writers (shorts) numbers.
Please brief me in this regard.
@IITIAN, Close to 4700 on monday means a 200+ point decline. That will be huge and bring up possibilities of a down circuit sooner than later.
@Ram.NIFTY
Increase in OI means addition of fresh contracts. That means additional options were written for that strike price. Now every option written has to be bought by somebody. So buy and sell are always matched. But increase of OI means addition of outstanding contracts (fresh contracts being written) while decrease of OI is writers buying back their options. It has to be kept in mind that the options writer could be buying back either to book profits or to contain losses.
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